Summary - 59, Waverley Road PO5 2PJ
9 bed 3 bath Terraced
Ready-to-rent Victorian HMO with modern kitchen and courtyard garden.
9-person HMO licence valid until August 2026
A ready-to-run HMO in Southsea, this mid-terrace Victorian offers nine double bedrooms across roughly 996 sq ft and comes with a valid 9-person HMO licence until August 2026. Period features such as high ceilings and bay windows give character, while a modern fitted kitchen and three contemporary shower rooms reduce immediate upgrade costs. The property is freehold and aimed at investors targeting students and young professionals in a popular, central neighbourhood.
Practical benefits include up-to-date safety certificates, mains gas boiler heating with radiators, double glazing, and a large low-maintenance courtyard garden — useful for outdoor communal space. The compact plot and overall small floor area mean running costs and repair scopes are concentrated, which can simplify management.
Notable drawbacks are the property's location within a high-crime, deprived area, which may affect lettings, insurance and long-term capital growth. The cavity walls are recorded as having no insulation (assumed), so energy-efficiency improvements could be needed to reduce bills and improve EPC rating. The HMO licence runs only to August 2026; continued operation will require timely renewal and compliance with licensing conditions.
This is a hands-on investment: it lets immediately but offers clear upside from sensible maintenance, improved insulation, and ongoing licence management. Investors seeking an income-producing HMO with minimal immediate refurbishment can view this as a strong short-term cashflow asset, while those prioritising long-term capital growth should factor in local area challenges and potential improvement costs.
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